Entain is apparently making good on its pledge to exit unregulated gaming markets. Officials for the London-based gaming and sports betting firm will abandon any markets “where it no longer sees a path to domestic regulation”, the business announced.
This was part of a plan announced in 2020 where the company said it wanted all of its revenue to be from locally regulated markets. They put the end of 2023 as the deadline to achieve that goal.
The company started to pull out from several unregulated markets, and is currently in more than 30 countries. That number will get pared down as they assess if those markets will work towards being regulated.
One of those is Brazil. The company said it was encouraged by the steps that the country was taking to have a regulated market.
“We stated at the outset that we would exit any market that wasn’t able to regulate at sufficient pace or to the right standards, and we have acted decisively to do so,” said Chairman Barry Gibson said in a statement. “We are proud to be leading our industry as the only global operator taking this approach of solely operating in markets where there is domestic licensing.”
Now Entain has ramped up its plan and Gibson said it will definitely benefit the company.
“As part of the profound and far-reaching transformation program that Entain has undergone in the last few years, we took the decision in 2020 to only operate in nationally regulated markets,” Entain chair Barry Gibson told the UK Morning Star. “Today’s announcement is therefore a continuation of that strategy, and should be taken as a clear demonstration of Entain’s commitment to the highest standards of corporate responsibility, governance, sustainability, and player safety.”
